Are you thinking about buying or selling a home in Colorado Springs?  Then you may be somewhat confused about how recent real estate news will affect your decision.  As a longtime Colorado Springs realtor, many of my clients have expressed similar concerns over the past several months.  Either they expected a quicker recovery in the Colorado Springs real estate market, or they wondered why homes aren’t moving faster in an area that is consistently voted as one of the best places to live in America.  All of these concerns are legitimate and completely understandable.

If you are someone who believes that the sub-prime mortgage crisis was the catalyst for the economic downturn, then you may also believe that the recession won’t be over until the housing market rebounds.  A Colorado Springs realtor can explain the subtleties behind the ups and downs of the real estate market and help you look at the Pikes Peak region apart from the rest of the country.  Remember, every region of the country is recovering at a different pace, so if you only listen to national real estate statistics you will not have a clear picture of what’s going on here in Colorado Springs.  Overall, the Colorado Springs market is doing much than the nation as a whole.

Your Colorado Springs realtor can provide you with up to date statistics on the market by accessing the monthly figures from the Pikes Peak Association of Realtors.  He or she will also help you understand how these statistics could impact your home sale or home purchase in the coming months.

For example, in March 2011 the home sales in Colorado Springs were 73 percent higher than in February and 7.3 percent stronger than the same month last year.  However, the average and median sale prices went down 2 percent and 5.3 percent respectively.  As a Colorado Springs realtor, I attribute this to the larger inventory of average-priced homes available in March, and the fact that there is no Federal New Home Buyer’s Tax Credit this year.  Buyers know that March and April are great months to bid lower, especially on homes that have been sitting on the market all winter.  By May, buyers may no longer have this kind of leverage because the market will become more active. 

Whether you are buying or selling, a Colorado Springs realtor can help you take best advantage of timing and current market conditions in the region.  Read this article by a well-known Colorado Springs realtor and you may feel a lot less hesitant about entering the housing market.